Asia-Pacific Defense Budgets 'To Outstrip N. America By 2021'

Jun. 25, 2013 - 01:15PM
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LONDON — Defense budgets in the Asia-Pacific region will overtake the United States and Canada by 2021, according to a study by respected analysts IHS Jane’s published Tuesday.

Weapons spending in China and other Asia-Pacific countries is expected to rise 35 percent above its 2013 level to $501 billion (€383 billion) by 2021, outstripping North America, the “Balance of Trade” study concluded.